Norway's Scana Energy Call on Consultants

Press Release

Monday, January 14, 2013

Scana Industries ASA engage consultants to evaluate strategies for Scana Energy's further growth and international development.

Scana Industries ASA has engaged Bridgehead AS and its Swedish partner Avantus Corporate Finance AB, to assist in assessing various strategies for the business unit Scana Energy's further growth and international development.

Scana Energy, is the Scana Group's largest business area with a turnover from 800 million to 1500 million SEK in recent years.

Scana has in recent years invested heavily in Scana Energy to develop the companies and to offer advanced products of high quality for the global energy sector's various growth segments, particularly the oil and gas industry. The products are well received by customers and the markets are substantial and in good growth.

The decision to engage consultants is a consequence of the strategy communicated when Scana reorganized the business areas in 2012 and which enabled different development processes for the Group's business areas.

The purpose of the review is to consider different measures that can accelerate and strengthen the efforts to develope Scana Energy's market position and create a basis for value creation for the shareholders of Scana Industrier.